Are more people turning to doorstep lenders?

Over recent months credit conditions in the UK have become tighter and tighter, and this has all stemmed from the global credit crunch, which took a hold in the UK last summer and has been wreaking havoc in the financial markets ever since. With so many people now unable to get finance as easily as they could before it is little surprise that so many have turned to alternatives such as payday loans and doorstep lenders, and the increasing number of people turning to lenders such as these has been reflected in the rise in business that some of these lenders have enjoyed. [Read more]

Insolvency figures drop whilst DMPs rise

At the end of last year and the start of this year there was a great deal of speculation over how consumers would manage their debt problems given the effects of the global credit crunch, the increase in living costs and bills, and higher mortgage costs, coupled with reduced availability to finance. It was predicted by many industry officials that insolvency levels would continue to rise over the course of this year, as more and more people walked away from their debts because they could no longer cope with their repayments. [Read more]

Repossession levels have rocketed in the UK

Since interest rates started going up in the UK between August 2006 and July 2007 there have been grave concerns in relation to the millions of people who were on cheap fixed rate mortgages and were due to come off them, as they would be left to try and manage rocketing repayments with interest rates so much higher than when they took out their fixed rate mortgage. Thankfully, some enjoyed a little saving grace through the fact that between December 2007 and April of this year interest rates fell three times, although they were still higher than when many of these homeowners took out their cheap fixed rate deals. [Read more]

How To Safeguard Your Money

Facing one of the most difficult economic scenarios in years, America has been in a slump that many financial experts are predicting will last the rest of 2008 and perhaps well into the year thereafter. The original problem started with the mortgage crisis, leading to thousands of foreclosures throughout the country and many people with home ownership, then it was confounded by the credit dilemma which has just as many US citizens struggling to make ends meet amidst growing collective debt. [Read more]

Not Every Solution Is The Right One

In today’s financial markets, consumer debt is mounting at a staggering rate. This is leaving many reeling with desperation and the accumulation of more and more bills. With mortgage payments, car notes, unexpected emergencies, and just the simple day to day living expenses, consumers are finding that what they make can not cover what they owe.

This imbalance leads to debt and that debt can lead to a whole slew of unwanted results. In an effort to restore balance, many consumers are looking for solutions anywhere they find and often times, what they find is not the right or even smartest solution available. [Read more]

Can you avoid wasting food and money?

Over the past week or two the Prime Minister, Gordon Brown, has been urging consumers to stop wasting money on food that they do not need, stating that millions of households are wasting a huge amount of food each week by buying things that they do not need and then disposing of them. According to a recent report the average household in the UK throws away around £8 worth of food every week, and according to Gordon Brown the tonnes of food that is being binned by consumers is adding to the rising inflation on food products. [Read more]

Is recession looming for the UK?

Amongst the terms that have been banded around the financial news over recent months are ‘global credit crunch’ and ‘recession’ and according to one recent report the nation could already be on the brink of recession, with industry officials sending out stark messages to government officials relating to the economic downturn and the crisis that is facing the country. [Read more]

Trying to save debt by cutting back on the cost of fuel?

With so many different living cost and bill increases over recent months many households in the UK are struggling to keep on top of their finances, and are teetering on the financial edge. In addition to the tight credit conditions in place resulting from the global credit crunch, we have seen the cost of energy, water, and food rocket. However, one of the most significant increases has been in the cost of something that many of us rely on to go about our daily business – fuel. [Read more]

What is Debt Consolidation

Debt in America is growing at an alarming rate and along with it bankruptcies and foreclosures. With more and more of us turning to such bleak ends it is crucial that people with debt know all the options available to them before accepting defeat.

One option is debt consolidation.

Debt consolidation is a popular service that essentially gathers all of your debts into one place with one interest rate and one monthly payment. Those that consolidate their debt benefit from the ease and convenience of having only one payment as opposed to multiple payments. Debt consolidation can be the answer to most of your debt problems but it does present its fair share of problems. [Read more]

How To Avoid Debt While Using Credit Cards

Credit cards are responsible for causing countless consumers an immeasurable amount of debt. It is believed that the average debt incurred by American families can be as high as $8,400 but is usually much higher. Credit cards are a useful tool for creating ease and convenience in a world obsessed with material and image. With 40% of households spending more then they earn, credit cards are deemed as a necessity in order to keep up appearances. [Read more]

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